Recent multifamily data shows that renters want high levels of technology. Many tenants are looking for certain features and often won’t rent a property if they are unavailable. Therefore, it is important to know what people are looking for to stay competitive. The main priority for renters, it seems, focuses on internet connectivity. However, some smart home technologies also made the list.
Access to High-Speed Internet is a Must According to Multifamily Data
Nearly 92% of renters say that access to high-speed internet is essential. As we become increasingly connected to the internet, tenants require fast loading speeds. Also, more and more people are working remotely, which means internet speed and reliability is a necessity. Therefore, ensuring that your tenants have access to fast internet can help you attract potential renters and keep your current tenants happy.
Wi-Fi Throughout the Community
Additionally, many people mentioned that they wanted Wi-Fi throughout their living communities, not just inside their apartment. Offering Wi-Fi throughout your building, including shared lobby or lounge spaces, means your tenants can stay connected as they go about their days. Multifamily data shows that almost 70% of people cited this as an important feature.
Leasing Agent Data Says Tenants Want Smart Home Technologies
In addition, smart home technology is high renters’ lists. However, these features aren’t considered necessities just yet, as most people said that they would still rent a property without them. Smart locks, thermostats, and lighting can help keep current tenants happy and appeal to new residents. Also, leasing agent data says that residents are willing to pay for these features. Renters said that they expected each of these smart amenities to add around $30 a month to their rent.
ApartmentData.com provides extensive multifamily data and targeted marketing strategies. We work with you to provide you the market data you need to achieve high levels of profitability. Our research team has the experience, knowledge, and dedication necessary to give you accurate, up-to-date multifamily data research about your area. Therefore, we can help you stay competitive and attract the best tenants in your area. Call us today at (800) 595-8730 to request a demonstration of our services for your community. We are here to serve you.